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[ccassaday]

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@Lilysmom wrote:

@magicmoodz, my heart breaks for her.  She has a very good job but is a single parent and who can afford  to carry two mortgages indefinitely?  She wound up with a pretty good rental to an executive for two years which is up in July.  Market still bad.  She built at the high market and it turned overnight.  Praying for a happier ending to this story.  LM

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Where does she live at? What state? Where I live we never experienced the housing bubble. Houses pretty much kept their value. The one thing that does worry he is all of a sudden a bunch of houses go up for sale. 

[Lilysmom]

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@ccassaday wrote:

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@Lilysmom wrote:

@magicmoodz, my heart breaks for her.  She has a very good job but is a single parent and who can afford  to carry two mortgages indefinitely?  She wound up with a pretty good rental to an executive for two years which is up in July.  Market still bad.  She built at the high market and it turned overnight.  Praying for a happier ending to this story.  LM

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Where does she live at? What state? Where I live we never experienced the housing bubble. Houses pretty much kept their value. The one thing that does worry he is all of a sudden a bunch of houses go up for sale. 

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@ccassaday, I am in Canada.  My sister had a similar issue in Florida.  Bought at a high in Florida in 2005 and sold eight years later after many renos at quite a loss.  Neither expected the market the turn.  If my sister had waited another 2-3 years, she would have been ok.  LM

[magicmoodz]

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@Lilysmom wrote:

@magicmoodz, my heart breaks for her.  She has a very good job but is a single parent and who can afford  to carry two mortgages indefinitely?  She wound up with a pretty good rental to an executive for two years which is up in July.  Market still bad.  She built at the high market and it turned overnight.  Praying for a happier ending to this story.  LM

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@Lilysmom

Your friend is fortunate to have your support at this difficult time.  Real estate can be scary.  My cousin just sold her beautiful home on a golf course for more than $100,000 less than what they paid.  

[Lilysmom]

@magicmoodz, my sister was on a golf course as well in a gorgeous house.  I was sick when I heard what she sold it for but she wanted to leave and wasn't willing to wait.  These are hard hits to take.  LM

[NickNack]

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@ccassaday wrote:

My mom says it makes her nervous also. But I think if we give ourselves three to four months we will be able to sell with no issues. As soon as our current house is finished with what we need to do we will be moving out to a rental. But it is nice to know we don't have to in order to start.

I will defintly take pictures along the way. I told my mom that she needs to take pictures of the progress to have as memories.  

Something else which is kjnd kind of nice. My sister and husband just got done building a huge garage(seperate from their house) so we have a place to store our stuff instead of having to put it in storage. She says but if it isn't out of there in 2 years she is going to burn it lol.

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I would be afraid to leave my furniture in a garage for several months.  I would consider renting a heated/air conditioned storage unit to protect it.

[ccassaday]

I know the market in our area has had low inventory for awhile. My brother in law sold his brothers house in just a couple weeks about 1.5 years ago.  So hopefully he will get ours sold as quickly. I thought my dad wanted to list if t two high but after seeing what two houses have sold for I think he is right on track. 

I was was laughing when I told my mom it will be weird to see pictures online of our house. We are so nosy we always look up a house when it is up for sale in our addition. I go I wonder if our neighbors will be we nosy as we are.  We are just ready to move. Funny how this house worked for us growing up with three kids now it doesn't work anymore. I think it's because we see what we are going to be building. It's going to be so beautiful. After getting sick and moving in with them a few years ago I have no where to put my stuff without asking for it. I am so excited to have a space I can put my stuff and be able to reach it. I am really excited about organizing my makeup and being able to use it everyday. 

[ccassaday]

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@Nicknack wrote:

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@ccassaday wrote:

My mom says it makes her nervous also. But I think if we give ourselves three to four months we will be able to sell with no issues. As soon as our current house is finished with what we need to do we will be moving out to a rental. But it is nice to know we don't have to in order to start.

I will defintly take pictures along the way. I told my mom that she needs to take pictures of the progress to have as memories.  

Something else which is kjnd kind of nice. My sister and husband just got done building a huge garage(seperate from their house) so we have a place to store our stuff instead of having to put it in storage. She says but if it isn't out of there in 2 years she is going to burn it lol.

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I would be afraid to leave my furniture in a garage for several months.  I would consider renting a heated/air conditioned storage unit to protect it.

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When we do go to a rental some furniture will stay to stage the house and the rest will go with us. We have already taken important stuff like photo albums and stuff and stored them at my other sisters. I think we will be leaving stuff like our Christmas tree and that kind of stuff in their garage. 

We we will be moving out before the house goes up for sale. With me being disabled and a golden retriever it will be to hard to keep the house cleaned and trying to get me out on a moments notice.

[magicmoodz]

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@Lilysmom wrote:

@magicmoodz, my sister was on a golf course as well in a gorgeous house.  I was sick when I heard what she sold it for but she wanted to leave and wasn't willing to wait.  These are hard hits to take.  LM

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@Lilysmom

Sometimes people have to do what is best, even if it is not the most lucrative.  My cousin also owns a summer home here on a lake and a winter home in Florida so they felt they had to sell their city home.  Real estate can be an excellent investment and in our case it was, but not everyone has the same outcome.  

[ccassaday]

My sister lives in a suberb of Chicago. They built their house and wanted to move closer to work once they had their son. They sold it at a bad time. They did not sell it for what they paid. That might of been because it was a new build at the time. But they were smart and had put a good down payment. So at least they were not underwater. If your not underwater at least you you get to sell it for what you still owe.

[ccassaday]

This tells you how good our market is right now where I live. A house a few doors down went up for sale this past weekend. A few days later and it's already pending. Keep in mind this house is pretty small. 3 bedrooms and only 1 full bath. I thought for sure they would have a problem selling it.  They priced it right. They must of wanted out of there quick because they have 3 kids and are probably getting cramped.